Ripple and 61 Japanese Banks Creating Instant Cash Settlement Using Blockchain
Mar 08, 2018
While cryptocurrencies exhibit tremendous price volatility they are supported in the long term by the potential of the blockchain technology. The blockchain has begun to find support among many elite companies as these firms come to recognize the efficiency and security improvements that coincide with adopting this technology organizationally. Ripple is taking advantage of this rising interest, partnering with 61 Japanese banks to develop an instantaneous cash transfer settlement system that functions continuously. Ripple is also working with banks in other countries to implement similar transfer systems, as the integration of blockchain into the financial sector continues rapidly. But what does this really mean for Ripple, and cryptocurrencies collectively?
Investors continue to point to the lack of regulation in cryptocurrency markets as a major hurdle that inhibits mass adoption. Many investors associate the term unregulated with illegitimacy. This is one the most significant obstacles preventing cryptocurrencies from gaining large scale adoption. Blockchain technology, meanwhile, may provide cryptocurrencies with the fundamental base necessary to sustain them into the future. As the number of users of blockchain increases, along with the number of ways in which the technology can be used, investors may recognize the potential that exists. They may also be willing to forgive a lack of regulation.
As a relatively new type of asset, cryptocurrencies have drawn skepticism from a large number of investors who are unsure how operate in the volatile crypto markets. Institutional acceptance may just be the first step necessary towards gaining the approval of the average investor.
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